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03/24/11

Huffington Post Article Featuring New York Loan Scam Case and LMSPN

"[...] In typical fashion, these entities pose as experts on mortgage modification issues and promise various relief services in exchange for upfront fees," the Lawyers' Committee for Civil Rights Under Law, an advocacy group which filed the lawsuit last week with help from pro bono attorneys from Davis Polk & Wardwell, said in a statement. "Ultimately, the companies fail to provide the promised services, cheating vulnerable homeowners out of thousands of dollars and leaving them in financial turmoil."

Save My Home's current iteration, according to the Lawyer's Committee, is Empire Home Savings. That company didn't respond to repeated interview requests. Eunice Rho, the counsel representing Shukran and other plaintiffs in the lawsuit, said Save My Home and its affiliates have routinely changed office locations, company names and phone numbers.

"The result is that it's become virtually impossible for former clients to get in touch to ask about progress or a refund, and it makes it very difficult for anyone to keep track of what they're doing," Rho said. [...]"

Read the full article from the Huff Post here: When Banks Won't Help Homeowners, Scammers Help Themselves.